Black & White Bridging has completed its largest loan so far, totalling £8 million.
The deal supports the sales period for Phase 2 of Birmingham’s City Green development.
The project comprises two residential blocks featuring 86 high-specification apartments. To date, 50 units have been sold, with the majority of the remaining apartments either reserved or exchanged.
The £8 million development-exit loan was completed in 15 days from receipt of the application. The funds were utilised to refinance an existing development finance facility and complete the final landscaping of the project.
Damien Druce, commercial director at Black & White Bridging, said: “This landmark transaction underscores our commitment to providing housing and supporting high-quality developments across the UK.
“Our collaboration with Pete Williams and Empire Global exemplifies the strength of our partnerships and our dedication to facilitating projects that enhance communities.”
Pete Williams, head of development finance at Empire Global, added: “Working alongside Black & White Bridging has been instrumental in bringing the City Green project to fruition.
“Their transparent approach and swift decision-making process have been invaluable in meeting the project’s financial requirements.
“We’ve completed many deals with B&W as they continue to deliver first class service and products time and time again.”
